The NCUA announced Aug. 30 it filed a suit in Federal District Court in Kansas two weeks earlier against another Wall Street firm that the regulator said sold faulty mortgage-backed securities to failed corporates U.S. Central Federal Credit Union and Western Corporate Federal Credit Union.

Two member credit unions say they aren’t running for the exits at Corporate America Credit Union following the July 3 announcement that CEO Thomas Bonds had resigned from the $3.3 billion corporate. However, they expressed disappointment and concern that the maverick and charismatic leader will no longer lead the Irondale,...